Chevron Corp. is engaged in a “smear campaign” against Ecuador as it tries to convince an arbitration court to stick Quito with the bill for cleaning up an environmental mess in the Amazon, the Ecuadorian environment minister told Efe here Friday.
Ecuador will not bow before the oil supermajor’s legal offensive, Lorena Tapia said in an interview with Efe on the sidelines of the U.N. Climate Summit in Warsaw.
Prominent figures from around the world are coming to Ecuador to see for themselves...Read Full Story
Ecuador’s National Court of Justice has upheld a pollution verdict against U.S. oil supermajor Chevron Corp., although it cut in half the $19 billion penalty imposed by a lower tribunal.
In 2011, a court in the northeastern Amazon province of Sucumbios found that Texaco, acquired by Chevron in 2001, dumped millions of gallons of crude residue and toxic waste water in the rainforest between 1964 and the early 1990s and thereby spoiled the lands and damaged the health of the local population...Read Full Story
Ecuadorian President Rafael Correa on Tuesday here made a definite push for cooperation with Russia in energy matters and in other strategic sectors.
“Very important things have been settled” for Ecuador, Correa said of his second visit to Russia in four years.
Correa and Russian leader Vladimir Putin presided at the signing of several energy and transportation accords, along with several letters of intent.
Among the firm agreements is one for a $230 million loan from three Russian banks to...Read Full Story
Newly created Cabinet-level position emphasizes Ecuador's priority focus on trade relations with U.S.A.Ecuador's Minister of Foreign Trade, Mr. Francisco Rivadeneira, will soon begin a series of meetings with American political and business leaders. His visit to Chicago on October 9 is one of the major stops on his American tour. Mr. Rivadeneira's role as Minister of Foreign Trade is a newly created, cabinet level position, reporting directly to President Rafael Correa. As a member of...Read Full Story
Amazon rainforestEcuadoroiloil drillingRafael CorreaYasuni
View over the Yasuní Park (Photo credit: KarstenThomsen1)
Ecuador announced on Thursday that it will open up the Yasuni basin of the Amazon rainforest to oil drilling.
President Rafael Correa announced that drilling for oil will now take place, after his alternative conservation plan failed to received enough financial backing. Correa launch a novel initiative in 2007, in which he pledged to hold off on oil drilling if...Read Full Story
Economist Rafael Correa is the new president of Ecuador.